HDFC Bank re-appoints Sanmoy Chakrabarti as chief risk officer

Chakrabarti holds M.S. in Quantitative Economics from Indian Statistical Institute. He is a member of the Indian Banks' Association (IBA) Standing Committee on Risk Management and Basel Implementation

He is responsible for determining the comprehensive risk appetite (covering credit risk, market risk, operational risk, liquidity risk, etc.) across various banking segments. Additionally, Chakrabarti oversees the enterprise risk management framework in the bank and guides the formulations of policies and procedures for internal capital adequacy assessment process, stress testing methodology, and group risk management. He is also responsible for identifying and managing any emerging risk having material impact on bank's activities.

HDFC Bank is private sector lender. As of 30 June 2023, HDFC Bank's distribution network was at 7,860 branches and 20,352 ATMs/Cash Deposit & Withdrawal Machines (CDMs) across 3,825 cities / towns as against 6,378 branches and 18,620 ATMs / CDMs across 3,203 cities / towns as of 30 June 2022.

The private lender's net profit rose 29.97% to Rs 11,951.77 crore on 39.12% jump in total income to Rs 57,816.67 crore in Q1 FY24 over Q1 FY23.

The scrip declined 1.07% to settle at Rs 1,561.95 on Friday 25 August 2023.

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